Nicolas Cage Pays Off 600,000 Tax Debt

November 21st

Nicolas Cage recently paid another $600,000 installment agreement and chipped further away at his massive tax debt. The actor is slowly paying back the original $13 million owed in back taxes after splurges on elaborate purchases and gifts between 2004 and 2009.

Half Way There

He still owes an approximate $6 million thanks to his love of expensive gadgets, despite already having paid off over half of the original amount by April 2012. The actor filed a lawsuit against his former business manager Sam Levin in 2009 claiming he had led him ”down a path of financial ruin”. Nicolas once splashed out $276,000 on a 67-million-year-old dinosaur skull, outbidding Leonardo DiCaprio.

Cage’s assets still include a jet, two yachts, three castles and several mansions. The 48-year-old had already been forced to sell his extensive comic book collection in 1997 for $1.6 million. The ‘National Treasure’ star confessed in 2010: ”Over the course of my career I have paid at least $70 million in taxes. Unfortunately, due to a recent legal situation, another approximate $14 million is owed to the Internal Revenue Service (IRS), however, I am under new business management and am happy to say that I am current for 2009.” Cage is fairly confident about his monetary situation. The actor has taken on dozens of roles recently to generate income to continue his tax repayment.